Paramount Center for the Arts

Analysis

Paramount Center for the Arts is a registered charity in United States, based in Saint Cloud, MN. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Paramount Center for the Arts reported income of $2.1m and spending of $2.0m, spending 94% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $5.2m to $2.1m (-59%), an average of -20% a year. The sharpest change came in the year to August 2022, when income rose by 142%. Over the whole period it spent 64% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Paramount Center for the Arts sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MN. Charities of a similar size with the same main cause include Superior Day Care ($2.1m), Promise Child ($2.1m) and Desoto County Dream Center ($2.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 22% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $135k (6.7% of expenses). Other salaries and wages came to $674k. At year end it held assets of $5.6m against liabilities of $509k, net assets of $5.1m. It reported 58 employees.